The national income account shows the sources of national income and how much of this income is spent on final consumption. That part of income which is not spent in this way is saving. Tables 29.10 and 29.11 show the income account for a number of years between 1965-66 and 1999-2000; table 29.10 shows a series of snapshots at five-yearly intervals to 1990-91, while table 29.11 shows annual time series from 1991-92 to 1999-2000.

29.10 NATIONAL INCOME ACCOUNT, Current Prices - Five-Yearly

1965-66

$m

1970-71

$m

1975-76

$m

1980-81

$m

1985-86

$m

1990-91

$m

Income

Compensation of employees

11,329

19,320

43,919

75,044

123,434

191,491

Gross operating surplus

5,131

9,253

17,359

36,267

68,950

118,891

Gross mixed income

3,919

5,421

9,867

18,745

27,578

40,847

Taxes less subsidies on production and imports

2,087

3,163

7,872

14,733

27,801

43,357

Net primary income from non-residents

-308

-600

-1,202

-2,397

-6,853

-17,222

Gross national income

22,158

36,557

77,815

142,392

240,910

377,364

Net secondary income from non-residents

-63

-25

-133

-164

313

222

Gross disposable income

22,068

36,447

77,528

141,951

240,526

377,586

Use of gross disposable income

Final consumption expenditure -

- General government

3,089

5,498

15,177

27,374

50,249

74,776

- Households

13,401

21,011

44,681

82,877

143,070

232,411

- Total final consumption expenditure

16,490

26,509

59,858

110,251

193,319

307,187

Net saving(a)

2,461

4,674

6,645

10,746

8,884

8,121

Consumption of fixed capital

3,117

5,264

11,025

20,954

38,323

62,278

Total use of gross disposable income

22,068

36,447

77,528

141,951

240,526

377,586

(a) Net saving is derived as a balancing item.

Source: Australian System of National Accounts (5204.0).

29.11 NATIONAL INCOME ACCOUNT, Current Prices - Annual

1991-92

$m

1992-93

$m

1993-94

$m

1994-95

$m

1995-96

$m

1996-97

$m

1997-98

$m

1998-99

$m

1999-2000

$m

Income

Compensation of employees

194,718

201,085

210,744

225,462

240,835

257,193

268,646

286,761

303,134

Gross operating surplus

124,536

133,602

141,949

148,066

158,161

164,150

178,091

182,585

197,430

Gross mixed income

40,482

43,437

44,094

45,104

49,228

49,384

53,016

55,715

59,485

Taxes less subsidies on production and imports

42,751

44,181

49,424

54,749

58,751

61,443

64,900

70,356

72,093

Net primary income from non-residents

-14,054

-12,682

-13,534

-18,118

-19,533

-19,307

-18,005

-18,328

-18,591

Gross national income

388,433

409,623

432,677

455,263

487,442

512,863

546,648

577,089

613,550

Net secondary income from non-residents

-134

-350

-339

-528

-171

-177

-75

-778

94

Gross disposable income

388,299

409,273

432,338

454,735

487,271

512,686

546,573

576,311

613,644

Use of gross disposable income

Final consumption expenditure -

- General government

79,729

82,877

85,010

88,021

93,362

96,226

101,291

108,733

117,773

- Households

244,211

255,330

266,278

282,800

301,776

315,235

335,049

353,757

373,313

- Total final consumption expenditure

323,940

338,207

351,288

370,821

395,138

411,461

436,340

462,490

491,086

Net saving(a)

-297

2,752

8,717

9,034

13,638

20,957

24,367

22,312

25,027

Consumption of fixed capital

64,656

68,314

72,333

74,880

78,495

80,268

85,866

91,509

97,531

Total use of gross disposable income

388,299

409,273

432,338

454,735

487,271

512,686

546,573

576,311

613,644

(a) Net saving is derived as a balancing item.

Source: Australian System of National Accounts (5204.0).

Graph 29.12 shows net saving by institutional sector as a proportion of GDP for the years 1965-66 to 1999-2000. Household net saving as a percentage of GDP generally rose between 1965-66 and 1974-75, but has fallen subsequently from its high of 12.1% in 1974-75 to just 1.5% in 1999-2000 ($9.7b). General government net saving was negative from 1974-75 to 1996-97 (except for 1988-89 and 1989-90). In 1999-2000 it was 1.1% of GDP ($7.1b). In 1999-2000 net saving of non-financial corporations was 0.8% of GDP ($5.0b). Net saving of financial corporations was negative from 1982-83 to 1986-87, the only period for which this sector has recorded negative net saving. In 1999-2000 net saving of financial corporations was 0.5% of GDP ($3.2b).

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